- Bank-beating exchange rates
- Your own personal account manager
- No fees and able to transfer in 30+ currencies
It’s actually much easier than it seems to send a large money transfer abroad. Banks can be helpful, but they also tend to charge high fees and offer poor rates. Specialist money transfer providers will give you better rates and lower fees.
But there are other alternatives, and the best way deto send money will depend on your specific situation. Taking things like speed, tax regulations, fees and more into consideration is also important when making your decision.
International money transfer providers exist to make the process of sending money overseas faster and more straightforward. They often offer some of the most competitive exchange rates for your large money transfer, and many charge far lower fees than what you’ll find at your bank.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Being able to send money for cash pickup is a convenient way to complete your international money transfer, particularly if you or your recipient doesn’t have a bank account to receive a large money transfer. Companies that offer cash-to-cash transfers include Ria Money Transfer, MoneyGram, Western Union and more.
Most banks are able to initiate an overseas transfer, but they tend to be the most expensive option. For small transfers, the familiarity and ease of using your local bank can be worth the fees and unfavourable exchange rate, but for a large money transfer, you’ll see a noticeable chunk taken from your transfer.
An international banker’s draft is issued by a bank on behalf of the payer and allows another bank, typically in another country, to draw funds directly from the issuing bank. International banker’s drafts can be drawn in a foreign currency, removing the need to speculate on future exchange rates, as funds are immediately converted when the international draft is created.
If you hold cryptocurrency, you can send it to a wallet anywhere in the world. Many cryptocurrency exchanges will also let you trade cryptocurrency for fiat currency, such as pound sterling or euros. That means it’s possible to exchange pound sterling for a cryptocurrency, like Bitcoin, and then trade your cryptocurrency for a different fiat currency, like euros. But that doesn’t mean it’s a simple process.
Cryptocurrency for international money transfers: How it works
The basic process for transferring money overseas using cryptocurrency is:
You’ll probably encounter percentage-based fees at each step, making cryptocurrency an expensive way to send a large money transfer .
The best option, of course, depends on your specific circumstances. But, while using your bank is convenient, overall using a money transfer specialist may end up being your least expensive option and offer stronger exchange rates. To get a baseline of what your large money transfer could cost, compare a few different money transfer providers.
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